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The resized image sure doesn't look as good anymore. It has lost a lot of detail in the image, and so it will appear soft and blurry. Also if you try and enlarge it even further, the image quality would be even worse.

The problem is, when Photoshop makes an image larger, it has to add pixels that were not there before, leaving Photoshop to guess as to what these new pixels are supposed to look like. Now, it uses some very complicated and advanced algorithms to guess, but the bottom line is, it's still just guessing, and it's not going to guess correctly. The larger you try to make your image, the worse your image is going to look. It will have a very soft and blurry appearance, not the crisp and sharp image you'd normally want.

Recreate the image. The one you provided is a tiny and out of focus image. You can try to blow up the image, but it would be an easier task if the image you start out with is clear and has simpler shapes to it.

Also... you can't do it for this image. But for other, simpler images. You can enlarge the image to as big as you want it and then reduce the opacity, then recreate the image. Just like putting a piece of paper over a picture and redrawing that picture.

It is hard to get small image bigger and keeping it looking good, if you make your own graphics, then you should use illustrator C2/3/4/5, graphics will stay in vector until you decide to make your graphic into pixels (jpg,etc.)